Michigan deregulated energy is the best thing to happen to the energy market in our cash-strapped state, at least according to consumers who are now paying 15% less on their energy bills. With Michigan deregulated energy, the energy market is now open to competition. Before deregulation, the public utilities were able to form a monopoly on service and rates. This caused consumers and lawmakers to become uneasy. In the year 2001, Michigan decided to deregulate its energy market and Michigan deregulated energy was born.
How Does the Michigan deregulated energy Market Work?
When you move into a new apartment, home or office, one of the first steps you will typically take is to activate your gas and/or electricity service. Depending on where you live, you may notice that you now have many choices as to where your energy comes from. You can thank energy deregulation for this. It used to be the public utility companies that handled the supply, transmission and distribution of gas and electric. In the current energy market, you now have third-party companies handling many aspects of the power supply chain. Let’s examine the current energy market so that you can better understand why you are paying the amounts you are.